VC Roundup: DreamIt kicks off, BFTP gets busy
Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.
DEFINITE READS
Technically Philly was able to stop in to see half of DreamIt Ventures’ kick off weekend at the University City Science Center last Friday where local media, entrepreneurs and participating companies got a chance to network and prepare for the incubator’s third class. It was the first time that the participating companies were able to see the space and meet one another. New this year is Brooklyn-based edication investor Startl’s involvement. The group partnered with DreamIt to incubate five of Dreamit’s 15 participating companies.
In opening remarks, co-founder Mike Levinson said that DreamIt received over 350 applications and the tech world considers DreamIt as “one of the top three incubators in the country.”
Also new to this year’s class, Kerry Rupp will be replacing Steve Barsh, who is focusing on his new startup, Packlate.
The event was rounded out by Deputy Mayor of Economic Development Alan Greenberger bragging about Philly, Science Center CEO Steve Tang welcoming the businesses to the space and Click Equations CEO Lucinda Holt discussing the difference between CEOs and Founders.
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Ben Franklin Technology Partners has been busy in recent weeks. The southeast group invested $800,000 in five (mostly pharma) companies last month, but then shelled out $2 million for eight more recently. The group also released its annual report and the finalists for the New Energy Idea Contest and plans to announce a winner June 17th.
